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Article
Publication date: 16 December 2022

Elias Kurta, Nadine H. Kammerlander and Christopher Khoury

This study aims to extend the research in the field of external investments in family firms. It contributes to the literature by analyzing the drivers of the family firm…

Abstract

Purpose

This study aims to extend the research in the field of external investments in family firms. It contributes to the literature by analyzing the drivers of the family firm owner-managers selling a minority stake to a strategic investor. This type of external investment might be of great interest to family firms because the family firm owner-managers can secure control over the firm and preserve socioemotional wealth while simultaneously generating additional financing and gaining strategic and managerial know-how. Likewise, minority investments in family firms might also be of high interest to strategic investors, thus enabling close collaborations (e.g. in R&D, purchasing and sales) with minor equity investments.

Design/methodology/approach

This study tests the hypotheses using a vignette study leveraging 327 observations from family firm owner-managers.

Findings

Based on the socioemotional wealth perspective, this study hypothesizes that the degree of family prominence, the degree of employee orientation and pure family management influence the willingness to sell. In addition, this study hypothesizes that the moderating effect of a below-average financial performance weakens the abovementioned direct effects. This study finds support for most hypotheses.

Originality/value

This study extends the research in the field of external investments in family firms. It contributes to the literature by analyzing the drivers of the family firm owner-managers selling a minority stake to a strategic investor.

Details

Journal of Family Business Management, vol. 13 no. 4
Type: Research Article
ISSN: 2043-6238

Keywords

Article
Publication date: 2 November 2022

Dharmendra Hariyani and Sanjeev Mishra

Scarcity of resources, ecological imbalance, global warming, rising energy prices and the ever-changing need for variety have attracted the government and manufacturers for…

Abstract

Purpose

Scarcity of resources, ecological imbalance, global warming, rising energy prices and the ever-changing need for variety have attracted the government and manufacturers for sustainable development of the industries. The integrated sustainable-green-lean-six sigma-agile manufacturing system (ISGLSAMS) provides a solid platform for meeting both the customers’ variety needs and business sustainability requirements. Many organizations opted for ISGLSAMS, but still due to various barriers organizations are not able to fully implement ISGLSAMS. The purpose of this paper is to identify the barriers to the ISGLSAMS, so that a more sustainable industrial manufacturing system and industrial symbiosis can be developed.

Design/methodology/approach

A literature review, from the Web of Science and Google Scholar database, has been carried out to identify the various barriers to the implementation of ISGLSAMS in the entire value chain. A total of 168 research papers have been reviewed for identifying the ISGLSAMS barriers.

Findings

This paper elaborates the concept of the ISGLSAMS, its attributes and various barriers and contributes to a better understanding and successful implementation of ISGLSAMS to meet business’ sustainability and market performance goals in the entire value chain. The paper also projects the future research framework and directions for the ISGLSAMS, integrated sustainable-green-lean-six sigma-agile (ISGLSA) product and ISGLSA supply and value chain.

Practical implications

The study contributes to a better understanding of ISGLSAMS’ barriers. The government, stakeholders and policymakers may plan the policy, road map and strategies to overcome the ISGLSAMS’ barriers. In-depth knowledge of subclauses of ISGLSAMS’ barriers will help the practitioners to overcome the ISGLSAMS’ barriers strategically. By overcoming the ISGLSAMS barriers, a more sustainable 7 Rs based market focused manufacturing system can be designed. This will also increase the opportunities to enhance the industrial ecology, industrial symbiosis and better recovery of the product, process and supply chain residual value. This will reduce the waste to the ecosystem.

Originality/value

This work has been carried out in search of a more sustainable manufacturing system, i.e. ISGLSAMS (which is 7 Rs based, i.e. 6 Rs of sustainability with 7th R, reconfiguration) to meet the customer variety needs along with sustainability in the ever-changing customer market. This study adds value to the practitioners to identify and prioritize the ISGLSAMS’ industry-specific barriers and design the solution for the more sustainable development of (1) industries, (2) the industrial symbiosis system and (3) the ISGLSA product, process, system and supply value chain with minimum resource consumption and environmental impact. The research also contributes to the (a) ISGLSAMS (b) ISGLSA supply chain (c) reconfigurable, sustainable and modular products and (d) redesign, recovery and refurbishing of the product to increase the product life cycle.

Article
Publication date: 2 March 2023

Aswathy Sreenivasan and M. Suresh

This study aims to identify the factors influencing agile readiness in start-ups. Start-ups are being confronted with increased competition, customer demands, technological…

Abstract

Purpose

This study aims to identify the factors influencing agile readiness in start-ups. Start-ups are being confronted with increased competition, customer demands, technological innovations and changes in the market environment. Adopting agile readiness for sustainable operations is a profitable and dependable way to improve the competition and reduce the number of failures of start-ups. The start-ups may investigate “how” after understanding the “whys.” The answers to these questions will be crucial to develop a strategy and a plan for luring clients, users, investors and partners. Therefore, this study will help in answering these crucial questions by using Total Interpretive Structural Modeling (TISM), whose main aim is to answer the key question of “what,” “how” and “why.” Using the “Total Interpretive Structural Modeling (TISM)” technique, this research tries to “describe,” “analyze” and “categorize” the agile readiness for sustainable operations enablers in start-ups.

Design/methodology/approach

Expert feedback and literature reviews from various start-ups led to the discovery of 10 enablers. In this study, the TISM technique was used to examine the inter-relationships between the enablers. The agile readiness for sustainable operations enablers was ranked and classified using the “Multiplication Applied to Classification (MICMAC)” technique. They were divided into four different categories: “autonomous,” “independent,” “linkage” and “dependent enablers.”

Findings

The results show that executive-level aid is the key agile readiness factor for sustainable operations. The next priority has been capability, experienced and skilled employees, market knowledge and environment agility. Leadership and clear vision have been given further priority. The next important is flexibility. The last and the least priority is given to receptive and strategic agility. This directional flow assists management in attaining adaptable sustainability, leading to continued growth in this dynamic environment.

Research limitations/implications

The study focuses primarily on the agile readiness for sustainable operations of start-ups. This study offers a recommended list of crucial elements for start-ups, which may aid in creating guidelines for implementing agility for sustainable operations. This study provides academics with a TISM model that illustrates how start-ups can be ready to implement agility for sustainable operations. Future researchers could add more agility readiness variables to this study and validate this model across different start-ups.

Practical implications

Before implementing agile readiness for sustainable operations in start-ups, this study will aid managers and practitioners in the start-up business in understanding the relationships of enablers and identifying important readiness enablers.

Originality/value

The current study analyzes the agile readiness for sustainable operations in Start-ups. To the best of the authors’ knowledge, it is the first endeavor to use the “TISM approach” to examine the interrelationships across agile readiness for sustainable operations characteristics in start-ups.

Details

International Journal of Innovation Science, vol. 16 no. 1
Type: Research Article
ISSN: 1757-2223

Keywords

Article
Publication date: 31 March 2023

Dharmendra Hariyani and Sanjeev Mishra

The purposes of this paper are (1) to identify and rank the various enablers for an integrated sustainable-green-lean-six sigma-agile manufacturing system (ISGLSAMS), and (2) to…

Abstract

Purpose

The purposes of this paper are (1) to identify and rank the various enablers for an integrated sustainable-green-lean-six sigma-agile manufacturing system (ISGLSAMS), and (2) to study their correlations and their impact on organizational performance.

Design/methodology/approach

Three tiers methodology is used to analyze the enablers for the successful adoption of ISGLSAMS. First, a total of 32 ISGLSAMS enablers are identified through a comprehensive literature review. Then, data are collected with a structured questionnaire from 108 Indian manufacturing industries. Then, an analytic approach is used to analyze (1) the relevance and significance of enablers and (2) their correlations (1) with each other, and (2) with the organizational performance outcomes, to strengthen the understanding of ISGLSAMS.

Findings

The findings suggest that top management commitment, sustainable reconfigurable manufacturing system, organization resources for 6 Rs, customers' and stakeholders' involvement, corporate social responsibility (CSR), customers and stakeholders-focused strategic alliances, dynamic manufacturing strategies, use of information and communication technology, concurrent engineering, standardized tasks for continuous improvement, virtual network of supply chain partners, real-time monitoring and control, training and education, employees' involvement and empowerment enablers are the higher level enablers for the adoption of ISGLSAMS. Findings also suggest that there is a scope for research in the incorporation of lot size reduction, Keiretsu-Kraljic supply chain relationship strategy, external collaborations with the stakeholders other than supply chain members, matrix flatter organization structure, employees' career development, justified employees' wages, government support for research fund and subsidies and vendor-managed inventory practices for ISGLSAMS. Top management commitment, sustainable reconfigurable manufacturing system, organization resources for 6 Rs, corporate social responsibility (CSR), dynamic manufacturing strategies, use of information and communication technology, concurrent engineering, virtual network of supply chain partners, real-time monitoring and control, training and education, employees' involvement and empowerment have a significant effect on (1) sustainable product design, (2) sustainable production system, (3) improvement in the sale, (4) improvement in market responsiveness, (5) improvement in the competitive position and (6) improvement in the global market image.

Practical implications

Through this study of ISGLSAMS enablers and their interdependence, and their impact on ISGLSAMS performance outcomes government, organizations, stakeholders, policymakers and supply chain partners may plan the policy, roadmap and strategies for the successful adoption of (1) ISGLSAMS in the organizational value chain, and (2) Industrial ecology and industrial symbiosis in India. The study also contributes to the industrial managers, and value chain partners a better understanding of ISGLSAMS.

Originality/value

This study is the first attempt to understand (1) the ISGLSAMS enablers and their correlations, and (2) the effect of ISGLSAMS enablers on ISGLSAMS performance outcomes to get the competitive and sustainability advantage. The study contributes to the practitioners, policymakers, organizations, government, researchers and academicians a better understanding of ISGLSAMS enablers and its performance outcomes.

Article
Publication date: 19 June 2023

Payam Nikneshan, Arash Shahin and Hamid Davazdahemami

This study aims to propose an integrated framework for analyzing the effect of lean and agile innovation on the lean and agile supply chains.

Abstract

Purpose

This study aims to propose an integrated framework for analyzing the effect of lean and agile innovation on the lean and agile supply chains.

Design/methodology/approach

The literature was reviewed and the dimensions of lean and agile supply chain/innovation were extracted. The statistical population included the managers and experts of pharmaceutical companies in Isfahan province. Eight pharmaceutical companies were selected. A researcher-made questionnaire was used to investigate the research variables. The face and content validity of the questionnaire and the data reliability were confirmed. After data collection, the studied companies were positioned in a two-by-two matrix and the associated data of two cells of the matrix, i.e. high lean supply chain/innovation and high agile supply chain/innovation were used for further statistical effect analysis using Smart-PLS.

Findings

The research results indicated that with the improvement of lean innovation in pharmaceutical companies, the lean supply chain improved by 97.9%; and with the improvement of agile innovation, the agile supply chain improved by 97.1%.

Practical implications

Considering lean innovation, pharmaceutical companies should deal with the process of conceptualizing innovation, and regarding agility strategy, their focus should be more on generating ideas to improve their agile supply chain. This study was performed during the COVID-19 pandemic and offers appropriate innovation strategies to improve the supply chain of pharmaceutical companies.

Originality/value

The literature review implies that no research has been conducted on the selected and classified variables of this study. Also, using the positioning matrix before statistical analysis distinguishes this paper from similar studies.

Details

International Journal of Quality & Reliability Management, vol. 41 no. 1
Type: Research Article
ISSN: 0265-671X

Keywords

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